8 User-Friendly Personal Finance Apps You Should Install on Your Smartphone Right Now
Technological disruptions and advancements have today changed how most things are being done. And personal finance issues are not an exception. These advancements have seen an introduction of several personal finance apps in the market, which has made life more convenient. But not just any personal finance app in the market is user-friendly and worth installing on your smartphone. You need the best tool that can help fulfill your aims and goals. Finding just the right tool can be quite a task. Good news is, you’re in the right place. Please read on for 8 of such user-friendly apps worth installing today.
1. Mint: Best for Managing Your Money
Budgeting can be a very challenging and time-consuming process, especially if your lifestyle is too demanding. Having a user-friendly budget app like Mint will make your life much easier. Just by connecting the app to your bank, it will access your transaction details and categorize them before creating a personalized budget. The app can help you keep track of your spending and bill payments. The app will notify you when bills are due and the amount you can afford to pay at that particular time. And if there are bills you normally take care of manually, you can have the app send you reminders of such through the mail. The latest version of the app has free access to your credit score.
2. You Need a Budget: Best for Getting Out of Debt
You Need a Budget (YNAB) can be the app you’ve been looking for if you’ve been living paycheck to paycheck and have been having troubles getting out of debt. It can save you from those debt frustrations and feelings of hopelessness. The app has been built around YNAB’s Four Rules which enable you to gain control of your spending and build a more reasonable budget. You can set up budgets for individual projects like vacation and holiday gifts. You can also check the progress of your spending in each particular month and identify the areas you can improve your spending. However, you’ll have to pay a certain amount every year as a user. Even so, the benefits that you can enjoy from using the app are much worth the annual payment. Plus, you’ll be given a free trial for the first 34 days. There are other convenient programs available which can be a milestone in your getting out of different debt. For instance, there might be good news for you if you’ve been struggling with Chase mortgages.
3. Honeyfi: Best for Couples
You can easily run into different problems when sharing a budget with your partner. There are instances where one partner may not totally agree with how the other partner is taking care of different expenses. Well, a budget app like Honeyfi will automatically access your expenses and create a common budget. Each of you will receive alerts of different key moments at the same time. But, of course, there are purchases that are for one partner only and the app allows you to tag and comment on such transactions to avoid misunderstandings. Therefore, if you’re buying a house, getting married, or moving in together, Honeyfi can be a perfect set up to consider.
4. Personal Capital: Best for Wealth Management
Wealth management can be very sensitive and too involving. However, things can be much easier with a wealth management app like Personal Capital. This app allows you to manage your investments and assets including all your daily spending accounts. With the 14,000+ financial institutions that the service integrates with, linking your different accounts within the app is very simple and straightforward. With Personal Capital app, and besides tracking your spending and creating a monthly budget, you can easily track and optimize your investments. You can also track your portfolio by individual security, asset class, or account.
5. Wally: Best for Tracking Your Expenses
Wally can be the best personal finance app for you if you’re interested in tracking your personal expenses. Perhaps you can relate to the struggle you’ve to go through when logging your expenses manually whether daily, weekly or monthly. With Wally, however, all you need to do is to take photos of your receipts. It will be an advantage if you’re using geolocation on your smartphone; the app will fill in the information automatically. The app is extremely convenient and easy to use.
6. Acorns: Best for Painless Saving
Automating good financial behavior comes with a lot of benefits for you now and in the future. Acorns app lets you enjoy such and other benefits by enhancing a painless saving of your finances. But how exactly does it work? Well, when you make purchases using a card connected to Acorns, it rounds the amount to the next highest dollar and the difference is automatically invested in a low-cost exchange-traded funds (ETFs) portfolio which you’ll select depending on your risk preference.
7. Prism: Best for Bill Payment
With several bills to take care of every single month, one can easily forget the due dates for each. And no one feels happy with late payment penalties, especially when they had enough money to cater for the bills. But all these will not be necessary when you have an app like Prism. Prism gives you the full picture of your personal finance by showing your financial accounts and bills in a single app. Unlike any other app, Prism touts approximately 11,000 billers. To automatically track your bills and give custom notification reminders when the dates are due, you’ll only need to add your bills to the app. You can also just schedule payments to be made at a certain date and have the app itself do the job for you. Using the app saves you the need to access several accounts to pay your bills. Sounds great, right?
8. Tycoon: Best for Freelancers
If you’re in the fashion industry or are involved in any freelancing job, keeping track of multiple projects can be stressful. Especially when one project comes in when you’re in the middle of other projects. Plus, payment in such fields tends to be very late even past the contractually required payment period. Perhaps you can just install Tycoon app which allows you to standardize information concerning your gig and create a timetable. With this app also, you can keep track of payments already settled, scheduled to be settled, and those that are past due. You’ll easily identify the clients that have not paid you yet. The app enables you to determine the pay for a particular task less the commission and tax hence weigh if it’ll be worth accepting the gig.
By now, if you’ve been looking for a user-friendly personal fiancé app to install on your phone, you’re in a better position of making an informed decision based on your financial needs. These apps are there to enhance your experience in managing your money, making major financial decisions, and sticking to your budget. You can also look out for other family finance (debt consolidation themed) blogs to learn more about different ways for handling personal finance issues, especially during the trying times. Good luck!